Why Bitcoin Is the MySpace of Cryptocurrencies, But the Blockchain Is Here to Stay

Blockchain transaction fees have historically been much lower — less than a penny as recently as 2015 — than these other established payment mediums. As the demand for Bitcoin and other cryptocurrencies has increased, so have the service charges.</p>

This also comes with a dynamic fee estimation that aids them in selecting the fee that will guarantee fastest transaction speed. This level of user control is definitely a very endearing quality that will likely grow in acceptance in the coming years.</p>

4. Blockchain tech is permeating other industries.</b></h2>

This technology was originally intended to be a baseline protocol for the future of financial transactions and nothing more. However, as industries began to realize the potential of this innovation to do much more than move money, extensive research to better understand and integrate it began extensively across industries.</p>

Today, you will find signs of blockchain infrastructure in every major industry as developers feverishly seek to make it better, faster, more secure, more user-friendly and more adaptable.</p>

This wave of industry disruption is expected to continue, as any technology this flexible is likely to achieve longevity. We can only wait to see how it is going to be used to amplify the effectiveness of other already promising tech innovations such as the internet of things.</p>

However, currently, blockchain is making steady progress. With all the benefits the blockchain has to offer, it certainly has a lot to raise the confidence of potential users. The world is changing daily, and the blockchain is put to the test in every situation to determine its ability to withstand future challenges.</p>